WEDNESDAY, 23 JAN 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2018_728x90px
Baker_Tilly_03/12-20/02_266x90px
IMH LTD

Cyprus Ready to Contribute for Better Results in the EU -Arab States Summit

Cypriot, Greek and Israeli Diaspora Leaders Meet February in Jerusalem

IMH LTD
GAP_Group_2018_468x60px

BUSINESS

brought to you by Deloitte

Shell Seeking $25B Gas Deal with Cyprus and Israel

Shell Seeking $25B Gas Deal with Cyprus and Israel

Energy giant Shell is in talks to purchase $25 billion in natural gas from Israel and Cyprus, a report in Globes said Sunday 11 March. The report quoted sources at Bloomberg, who first reported the story last Thursday.

The report said that Shell was seeking to contract with the two countries for 10 billion cubic meters of natural gas annually from Israel’s Leviathan and Cyprus’s Aphrodite gas fields. According to Bloomberg, all three parties involved are seeking to sign a deal by the end of 2018.

This is the second time that Shell has sought to purchase gas from the Leviathan field. The first attempt was in 2016, when the partnership that developed the field – Delek Drilling, Noble Energy, and Ratio Oil Exploration – sought to close a deal with BG Group, which was subsequently acquired by Shell. That deal, though completed, was never consummated, and fell by the wayside in the wake of Israel’s reevaluation of taxes and licensing fees to be imposed on the Leviathan partners.

Development of Leviathan, the biggest infrastructure project in Israeli history, began last year. According to the latest reports by the partnership to the Tel Aviv Stock Exchange, gas should begin to flow from the field at the end of 2019. Delek Drilling, controlled by Israeli millionaire Yitzchak Tshuva, owns 45.3 percent of the field, while U.S.-based Noble Energy owns 39.7 percent of it. Ratio owns the balance.

MORE ON BUSINESS

DP World Limassol: New Investments Enhance Efficiency and Safety of Port Operations

DP World Limassol has acquired a range of new equipment as part of an ongoing upgrade of ...

The New Power Station Foundation Stone Laying Ceremony

The New Power Station of Power Energy Cyprus (P.E.C.) Ltd is now a fact and its ...

AstroBank Completes USB Bank Acquisition

AstroBank has completed the previously announced acquisition of USB Bank’s banking ...

FROM AROUND GOLDNEWS

   

Cypriot, Greek and Israeli Diaspora Leaders Meet February in Jerusalem

Cypriot, Greek and Israeli diaspora leaders are set to meet trilaterally in Jerusalem, between February 24 and 26. Presidential Commissioner Photis Photiou ...
   

Baker Tilly South East Europe: New Substance Requirements in Offshore Financial Centers

Under the OECD’s and EU’s influence and in an attempt to get rid of their status as “bad” jurisdictions, long established island ...
   

EY: Technology and Innovation are Key to Drive Agile Growth for Insurance Companies

Global insurance sector growth is expected to remain weak, and companies must focus on technology and innovative initiatives that optimize costs, drive wider ...
   

DP World Limassol: New Investments Enhance Efficiency and Safety of Port Operations

DP World Limassol has acquired a range of new equipment as part of an ongoing upgrade of the Limassol port infrastructure. A new, high-tech mobile harbour ...
   

Emirates Introduces Entertainment Playlist Syncing Ahead of Travel

Emirates has introduced an innovative new function on its app to allow customers to create bespoke playlists ahead of their flight and sync it to their seats ...
   

The New Power Station Foundation Stone Laying Ceremony

The New Power Station of Power Energy Cyprus (P.E.C.) Ltd is now a fact and its construction is proceeding fast. The Power Plant aspires to become the first ...
   

Cyprus Ready to Contribute for Better Results in the EU -Arab States Summit

Foreign Minister Nikos Christodoulides expressed the readiness of the Republic of Cyprus to contribute to achieving substantial results during the EU summit ...
   

Trade Deficit Down by 12.8% in January – October 2018

Trade deficit declined 12.8% in the period January - October, according to data released Monday by the Statistical Service of Cyprus.   Trade deficit ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Issue_300x250px

IMH LTD